Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic industry, announced that it has finalized a whiteagreement to launch a line of cannabis vape products (https://ibn.fm/MfSkc). The agreement was made between Pure Extracts’ wholly owned subsidiary, Pure Extracts Manufacturing Corp., and FLO Brands, based in Richmond, British Columbia.
“We are excited about launching a white label product with our new partner, FLO Brands, a fellow BC company,” said Pure Extracts CEO Ben Nikolaevsky. “They have enormous capacity to create new cannabis products as the market matures here in Canada and consumer tastes evolve. With the addition of FLO and the increased capacity and flexibility our new cosolvent injection system provides, we have begun to execute our strategy with craft producers and branding specialists to get their white label products into the provincial dispensaries and drive up to $3 million of annual revenue from this vertical.”
Pure Extracts’ strategy has been deliberate and careful with the end goal of becoming a premier white label product. Key steps included the completion of its all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The facility has been constructed to European Union GMP standards, allowing Pure Extracts to attract both domestic and export sales of products and formulations. In addition, the Company has applied for and been granted essential licenses by Health Canada. And late last year, the Company’s stock began trading on the Canadian Securities Exchange (“CSE”).
In a recent corporate update (https://ibn.fm/cZea1), Nikolaevsky reported that “white labeling has also begun to build momentum and gain sales traction for us. We are in the final stages of bringing on two large Licensed Producers as customers in order to manufacture their cannabis 2.0 products in the vape and tincture sectors. Although the sales cycle has been longer with COVID-19, we are now regularly engaging with potential customer leads who are sending us a growing number of requests for information,” he said. “Our Pemberton, BC facility is fully operational and in daily production and readily able to meet the increasing demand for gummies, vapes and whiteproducts.”
FLO Brands represents the power Pure Extracts now has in the white label space. A boutique brand house focused on creating state-of-the-art, cannabis-based products featuring the finest genetics, Flo Brands is “excited to be partnering with Pure Extracts, a proven leader in the cannabis space, to launch our line of premium cannabis products and are very fortunate to have Ben and his team’s extensive experience on our side,” said FLO Brands CEO Joseph Ke. The collaboration between PULL and FLO initially calls for the production of 3 SKUs of 0.5 gram, 510 vape cartridges. In addition to its 30-plus proprietary formulations, Pure Extracts will be providing co-manufacturing services along with all sales and distribution including labelling, packaging, applying of excise stamps and shipping.
Pure Extracts is a plant-based extraction company with a new vertical in functional mushrooms. The Company is positioned to be a dominant extraction company and a leader in the rapid development and commercialization of functional and medicinal psychedelic products.
The company’s business model consists of three verticals: in-house brands; toll processing, offering contract cannabis and hemp processing to Canadian Licensed Producers and international partners to sell under their own brands; and white labelling, supplying products, including edibles and custom formulated oils, in consumer-ready packaging for companies licensed to sell cannabis oil extracts and for CPG brands seeking licensed cannabis manufacturing partners.
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://ibn.fm/PULL
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